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DoubleClick Not Taking Merger Approval for Granted

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Georgeson's site

DoubleClick hired Georgeson Shareholder, a proxy solicitation firm to call up its shareholders to recommend they approve the planned sale of the firm to a group of private investors. The perceived need for a get-out-the-vote effort may extend from the fact that the bid for DoubleClick, at $8.50, was only about 15 percent above where the stock traded prior to the offer. If the deal goes through, shareholders would gain 15 cents per share over this morning's price.

Current DoubleClick management have been beavering away over the past year with the construction of golden parachutes - along with plans to sell the firm - some elements of which were designed to be valid only through the end of this month, although those elements may have been since extended or changed and not yet disclosed.

A Georgeson representative told a MarketingVOX staffer who owns DoubleClick stock over the weekend that the firm was pushing shareholders to send in their proxy agreements prior to the July 12 voting deadline. Another representative contacted this morning said that it was DoubleClick, not the purchasing investor group, that hired Georgeson. They are digging deeply into the shareholder list, contacting even those people owning as few as 1,000 shares, or 0.00079 percent of the firm.

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